Divorce can be complicated, especially when determining what each person is entitled to. If you’re a spouse going through a divorce, it’s important to understand your rights and what you might expect from a settlement. Edwards Family Law can help.
Today, we’ll discuss what a spouse might get in a divorce settlement. We’ll teach you about money for support, how belongings are divided, and other important stuff you need to know about your divorce settlement.
Sometimes, divorce can be tricky to navigate on your own. That’s where an Atlanta divorce lawyer can come in to help. Edwards Family Law is here to offer the advice you need to understand your situation and move forward.
Divorce can be difficult. At Edwards Family Law, we’re here to help you through the change.
In a Georgia divorce, it’s essential to understand that a spouse is typically entitled to an equitable (“fair” share of the marital property. This includes jointly owned properties and assets attained during the marriage.
Do not confuse “equitable” with “equal.” The court considers various factors like each spouse’s income, contributions to wealth accumulation, and future needs.
The process begins with property valuation – assessing the worth of all relevant assets. Then comes asset distribution – deciding who gets what based on fairness rather than strict equality.
It’s not always straightforward, but rest assured, you’re not alone in this journey. Edwards Family Law is here to support you.
When it comes to child custody and support provisions, a spouse typically has the right to negotiate for shared responsibilities or even sole custody, depending on the circumstances. As part of your divorce settlement, you’ll need a well-drafted parenting plan outlining how you and your ex-spouse will raise your children. This plan includes elements like visitation rights, schooling decisions, and healthcare arrangements.
Furthermore, a spouse may be entitled to child support from their former spouse. The amount usually depends on factors such as both parents’ income and the child’s needs.
Keep in mind that these provisions aim not only to secure your legal position but also to foster an environment where your children feel loved and supported by both parents despite the separation.
You’ll also need to consider your right to alimony in Georgia, which can be a significant part of what you’re entitled to in your settlement. Alimony or spousal maintenance is generally determined by several factors, such as the length of the marriage, each spouse’s income, conduct of the parties, and the standard of living maintained during the marriage. The court will evaluate these spousal maintenance factors to establish whether you’re entitled to receive or obligated to pay alimony.
There are also alimony tax implications. In most cases, alimony payments are tax-deductible for the payer and taxable income for the receiver. This setup can affect your total taxable income and sometimes change your tax bracket.
Understanding these aspects is critical to protecting your interests and ensuring you get a fair settlement during divorce negotiations. If you have more questions, reach out to Edwards Family Law today.
Handling joint debts is another crucial aspect to consider during a separation. Both you and your spouse have an obligation to clear any shared liabilities. Remember, the divorce doesn’t automatically absolve one party from these commitments.
The division of debts can have significant credit score implications. If your ex-spouse fails to pay their portion, it could negatively impact your credit rating. Therefore, negotiating shared liabilities can be a delicate process. It’s essential that both parties uphold their responsibilities.
Consider seeking legal advice for proper guidance on how to handle this issue. An Atlanta divorce lawyer becomes your invaluable resource during this time. Call us today.
Prenuptial agreements, often referred to as prenups, can significantly influence a separation’s financial aspects, especially regarding asset division. This legal document outlines how assets and debts will be divided if the marriage ends in divorce. Courts generally uphold prenup enforcement, ensuring each party’s rights and obligations are respected.
However, there are certain prenup limitations you should understand. For instance, prenups cannot include child custody or child support provisions. The court determines these issues based on what’s best for the children involved. Thus, while a prenup can provide clarity and protection for both spouses during a divorce settlement process, it doesn’t cover every possible issue that may arise.
With all the confusion that comes with divorce, knowing what you deserve as a divorcing spouse is essential. Figuring out things like money, belongings, and legal steps can be challenging, but you don’t have to do it alone.
That’s where Edwards Family Law comes in. Our team of Atlanta divorce lawyers understands these processes, and we’re here to help you every step of the way.
Remember, every divorce is different, and having the correct information and support can make all the difference. If you’re ready to learn more about what you should get in your divorce settlement, get in touch with our team.
We understand that the divorce process can be complex. We’re here to help you every step of the way.
Contact us today to get the help you deserve. You can rely on us.
Regina Edwards is the Owner and Managing Attorney of Edwards Family Law, an Atlanta family law and estate planning law firm she founded in 2005. With more than 21 years of experience practicing law, she is dedicated to representing clients in a wide range of legal matters, including divorce, child custody, child support, legitimation, wills, trusts, probate, and Medicaid planning.
Regina received her Juris Doctor from the Tulane School of Law and is a member of the State Bar of Georgia and the Atlanta Bar Association. She has received numerous accolades for her work, including being named a Rising Star by Super Lawyers for six years, as well as being named among the Pro Bono All Stars by the Georgia Bar Journal in 2019.
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